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Leases (Tables)
3 Months Ended
May 31, 2021
Leases [Abstract]  
Components of Lease Expense

Components of lease expense for the three months ended May 31, 2021 and May 31, 2020 were as follows (in thousands):

 

 

 

Three months ended

 

 

 

May 31, 2021

 

 

May 31, 2020

 

Operating lease cost

 

$

1,639

 

 

$

1,627

 

 

 

 

 

 

 

 

 

 

Supplemental cash flow information related to leases was as follows:

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

1,630

 

 

$

1,612

 

 

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange for lease obligations

 

 

 

 

 

 

 

 

Operating leases

 

$

2,603

 

 

$

 

Weighted Average Remaining Lease Terms

 

 

 

 

Operating leases

 

4 Years

 

 

 

 

 

 

Weighted Average Discount Rate

 

 

 

 

Operating leases

 

 

3.74

%

 

 

Summary of Future Minimum Lease Commitments Under Non-cancelable Operating Leases

Future minimum lease commitments under non-cancelable operating leases for each of the fiscal years ending are as follows (in thousands):

 

 

 

Operating

 

 

 

Lease

 

 

 

Commitments

 

2022 (remaining 9 months)

 

$

4,130

 

2023

 

 

5,626

 

2024

 

 

4,199

 

2025

 

 

3,427

 

2026

 

 

2,031

 

2027

 

 

706

 

Thereafter

 

 

3

 

Total future minimum lease payments

 

$

20,122

 

Less imputed interest

 

 

1,374

 

Present value of lease liabilities

 

$

18,748